Latest News:- Wheel Aligner Equipment Market: CCD aligner is expected to lead the Type segment during 2024-2028

Wheel Aligner Equipment Market to grow at a CAGR of 6.5% during 2024-2028

The Wheel Aligner Equipment Market is expected to grow at a CAGR of 6.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 730.8 million. Wheel aligner equipment plays a vital role in professional automotive repair shops and for discerning customers, ensuring that wheels are correctly aligned to maintain vehicle safety and optimize fuel efficiency. Advanced Driver Assistance Systems (ADAS) calibration is a critical aspect of modern automotive repair, with wheel alignment being a prerequisite for this process. ADAS subsystems, such as lane keep assist, adaptive cruise control, and advanced emergency braking systems, rely on accurate wheel alignment for proper functionality. Consequently, wheel alignment testing and diagnostics are essential to ensure the reliable performance of these advanced systems. 

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The CCD aligner subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the CCD aligner subsegment will lead the Type segment during 2024 and 2028 The Wheel Aligner Equipment Market signifies a significant segment within the automotive industry. This market encompasses advanced machinery utilized for ensuring optimal wheel alignment in vehicles. By enhancing vehicle performance and safety, wheel aligner equipment contributes substantially to the automotive aftermarket sector. Market growth is driven by factors such as increasing vehicle production, rising consumer awareness, and stringent regulatory norms.

Here are the various ways based on which the market is segmented: 

• Type
  • CCD aligner
  • 3D aligner
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • Middle East and Africa

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There are several factors that are causing the market to flourish increasing number of automobiles

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Wheel Aligner Equipment Market is witnessing significant growth due to the increasing demand for alignment services from automotive service providers. With advancements in technology, 3D wheel aligners have gained popularity over conventional aligners, offering improved accuracy and efficiency. These aligners use 3D imaging to ensure optimal vehicle performance and tire longevity, contributing to vehicle safety. After-sale service is a crucial aspect of the market, with OEMs and aftermarket players offering alignment services to customers. Companies like Snap-on Incorporated lead the market with their customer-centric approaches and advanced automotive infrastructure. The market includes various types of wheel aligners, such as truck wheel aligners, imaging wheel aligners, non-contact four-wheel alignment, and wireless alignment systems. Economic uncertainties have led to an increased focus on contactless wheel aligners, such as Spectrum 4C, to ensure safety and minimize physical contact. Automated systems are becoming increasingly common in the market, offering faster and more accurate alignment services. The aftermarket segment is expected to grow significantly due to the increasing number of vehicles on the road and the need for regular vehicle maintenance. Overall, the wheel aligner equipment market is poised for continued growth, driven by advancements in technology and the increasing importance of vehicle safety.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Key growth drivers in this market include the surge in electronic components utilization in automobiles, fueled by the escalating sales of EVs, motorcycles, and PCs, resulting in substantial demand for electronic control units (ECUs) and other electrical components over the last decade.

The Wheel Aligner Equipment Market is experiencing significant growth, fueled by the increasing number of automobiles. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/